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CEMEX Reports Third-Quarter 2013 Results

Stocks in this article: CX

CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE: CX), announced today that consolidated net sales reached U.S.$4.0 billion during the third quarter of 2013, an increase of 3% versus the comparable period in 2012. Operating EBITDA increased by 2% during the quarter to U.S.$747 million versus the same period in 2012.

CEMEX’s Consolidated Third-Quarter 2013 Financial and Operational Highlights

  • The increase in consolidated net sales was due to higher prices of our products in local currency terms and higher volumes in most of our regions.
  • Operating earnings before other expenses, net, in the third quarter increased by 14%, to U.S.$467 million.
  • Reporting a narrower controlling interest net loss of U.S.$155 million during the third quarter of 2013 from a loss of U.S.$203 million in the same period last year.
  • Operating EBITDA increased during the quarter by 2%, to U.S.$747 million.
  • Operating EBITDA margin decreased by 0.2 percentage points on a year-over-year basis reaching 18.6%.
  • Free cash flow after maintenance capital expenditures for the quarter was U.S.$245 million, compared with U.S.$204 million in the same quarter of 2012.

Fernando A. González, Executive Vice President of Finance and Administration, said, “We are pleased to report continued growth in operating EBITDA on a year-over-year basis supported by the increase in our volumes in most of our regions and an increase in our consolidated prices in local-currency terms for our three main products on a year-over-year basis. We continue to be focused on our company-wide efforts to improve our operating efficiencies and the value we generate from our asset base while delivering better value to our customers.

“In Mexico, we are encouraged by the prospects going forward given the investment plans and other initiatives recently announced by the federal government to support the infrastructure and housing sectors, as well as the economy in general.”

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